Imported scrap market for South East Asia witnessed a fall in prices in all major markets over last week, with varied buying trends observed, as offers from all major export markets in general, but Japan in particular witnessed a drop.
Vietnam – Imported scrap offers to Vietnam witnessed a downward trend, with Japanese scrap prices especially falling sharply amid a collapse in Japanese export offers, while North American material’s offers too moved down after Turkish buyers pulled the prices down last week. Decent deals were reported even amid falling prices.
Japanese H2 scrap (in bulk) prices fell by over $15/t in just over last week, with 2 bookings getting concluded at $ 252/t and $253/t VFR to a South and North Vietnam mill respectively, in the latter half of last week. Before that, during the opening of last week, an H2 cargo was booked at $265/t CFR Vietnam, while in the previous week, offers stood at around $268/t CFR levels.
Presently offers for Japanese H2 in Bulk stand at $255/t CFR, while buyers are bidding at $250/t and lower, confident on a further downward movement, given the degree of downslide witnessed in Japanese prices recently.
Among the higher grades, Japanese Shredded were booked in a couple of deals at around $275/t, while Shindachi scrap was sold at around $278-280/t CFR North Vietnam. Down by 10-12/t respectively against levels in the previous week.
USA origin HMS 1&2 (80:20) in bulk is now being offered at $270/t CFR Vietnam, down by $5/t against a booking in opening of last week at $275/t CFR.
Indonesia – Active trades for imported scrap were witnessed last week while price correction was observed again, after briefly moving up in the previous week.
A few deals of Busheling bundles were reported at around $280/t CFR Jakarta, in comparison to $286-290/t offers in the prior week. Offers for Busheling were reported at $280-282/t while bids were observed at $276-280/t CFR. Among other trades, deals of HMS1 were reported at $ 245/t CFR Jakarta and HMS 1&2 (80:20) at $230/t CFR Jakarta.
Meanwhile, P&S scrap offers were recorded at $280/t in 20 ft and $275/t CFR in 40 ft containers, down by 5/t on a weekly basis, while buyers’ bids for P&S stand at $270-275/t CFR Jakarta.
Thailand – Last week offers moved down to some extent, while less interest from buyers was reported due to upcoming holidays from opening of next week, for Asahna Bucha day.
Australian origin HMS 1&2 was offered in the range of $255-260/t CFR Thailand, down by $5 w-o-w.
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